You Adapt, Evolve, Compete Or Die.

Don’t Ever Average Losers. Decrease Your Trading Volume When You Are Trading Poorly; Increase Your Volume When You Are Trading Well. Never Trade In Situations Where You Don’t Have Control. For Example, I Don’t Risk Significant Amounts Of Money In Front Of Key Reports, Since That Is Gambling, Not Trading.

We Have Ripped The Humanity Out Of Our Companies. It's Threatening The Very Underpinnings Of Our Society.

As I've Told My Three Daughters, All Of Whom I've At One Time Encouraged To Go Into Macro Trading, Any Man Or Woman Can Do Anything To Which They Set Their Heart And Mind.

If I Have Positions Going Against Me, I Get Right Out; If They Are Going For Me, I Keep Them Risk Control Is The Most Important Thing In Trading. If You Have A Losing Position That Is Making You Uncomfortable, The Solution Is Very Simple: Get Out, Because You Can Always Get Back In.

First If All, Never Play Macho Man In The Market. Second, Never Overtrade. My Major Problem Was Not The Number Of Points I Lost On The Trade, But That I Was Trading Far Too Many Contracts Relative To The Equity In The Accounts That I Handled.